XML 61 R6.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Cash flows from operating activities:      
Net income $ 764,219 $ 739,385 $ 429,072
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation, depletion, amortization and accretion 965,437 694,698 391,844
Property impairments 220,508 122,274 108,458
Non-cash (gain) loss on derivatives, net 130,196 (199,737) (4,057)
Stock-based compensation 39,890 29,057 16,572
Provision for deferred income taxes 442,621 405,294 245,203
Excess tax benefit from stock-based compensation 0 (15,618) 0
Dry hole costs 9,350 767 7,949
Gain on sale of assets, net (88) (136,047) (20,838)
Other, net 2,037 5,007 3,661
Changes in assets and liabilities:      
Accounts receivable (166,138) (91,791) (294,702)
Inventories (7,697) (7,165) (3,412)
Prepaid expenses and other (11,537) 14,381 (3,329)
Accounts payable trade 107,250 (8,487) 83,907
Revenues and royalties payable 28,401 40,030 88,976
Accrued liabilities and other 44,260 40,309 20,784
Other noncurrent assets and liabilities (5,414) (292) (2,173)
Net cash provided by operating activities 2,563,295 1,632,065 1,067,915
Cash flows from investing activities:      
Exploration and development (3,660,773) (3,493,652) (1,925,577)
Purchase of producing crude oil and natural gas properties (16,604) (570,985) (65,315)
Purchase of other property and equipment (62,054) (53,468) (44,750)
Proceeds from sale of assets and other 28,420 214,735 30,928
Net cash used in investing activities (3,711,011) (3,903,370) (2,004,714)
Cash flows from financing activities:      
Revolving credit facility borrowings 970,000 2,119,000 493,000
Repayment of revolving credit facility (1,290,000) (1,882,000) (165,000)
Proceeds from issuance of Senior Notes 1,479,375 1,999,000 0
Proceeds from issuance of common stock 0 0 659,736
Proceeds from other debt 0 22,000 0
Repayment of other debt (1,951) (1,579) 0
Debt issuance costs (2,265) (7,373) (36)
Equity issuance costs 0 0 (368)
Repurchase of equity grants (14,690) (11,236) (4,918)
Excess tax benefit from stock-based compensation 0 15,618 0
Exercise of stock options 0 60 13
Net cash provided by financing activities 1,140,469 2,253,490 982,427
Net change in cash and cash equivalents (7,247) (17,815) 45,628
Cash and cash equivalents at beginning of period 35,729 53,544 7,916
Cash and cash equivalents at end of period $ 28,482 $ 35,729 $ 53,544